How does this scam work ?

[Norfolk Hill Farmer]

Surely if the bank have taken their commission and and told you it clear , it’s down to them after that for any liability?

 

[Highland Mule]

Surely if the bank have taken their commission and and told you it clear , it’s down to them after that for any liability?

If only.

 

[Norfolk Hill Farmer]

So when is the money yours ? And where does your information come from.

 

[Highland Mule]

So when is the money yours ? And where does your information come from.

It comes from my understanding of how these scams work. As to when, you’d need to ask your bank that one - as I advised before.

 

[mezz]

so how long does it take for a cheque to clear ?

Sold a horse to Germany. It took about 3 weeks to fully clear, even though the money showed in the account after a couple of days. A bit ridiculous really. This was about 20 years ago so things may have changed.

 

[Norfolk Hill Farmer]

It comes from my understanding of how these scams work. As to when, you’d need to ask your bank that one - as I advised before.

So when I look at my online banking and it says £x cleared funds available that’s not necessarily true.

ps I do realise a cheque can appear in your account before it has cleared and be in the uncleared section and have the possibility of bouncing.

 

[Highland Mule]

So when I look at my online banking and it says £x cleared funds available that’s not necessarily true.

ps I do realise a cheque can appear in your account before it has cleared and be in the uncleared section and have the possibility of bouncing.

That’s my understanding. The bank doesn’t have time to check with the chequebook owner that the book hasn’t been stolen/ cloned or whatever before “clearing” it.

 

[Exfarmer]

Use BACS instead.

No no no. You have absolutely no protection with Bacs always use a credit card!

 

[Courier]

I remember a farming friend who was sent a cheque from a grain merchant who knew he was on the way out with the instructions to “get it banked, pay off your overdraft and change banks.”
My friend did just that, the merchant’s cheque eventually bounced but too late for the bank to recover their monies.
Probably couldn’t do it nowadays

 

[suffolksmallholder]

Why does ANYONE still use cheques ?

that’s my biggest question

direct eft transfer into your account

once it’s in, it’s in

I literally can’t remember the last time I banked a cheque or wrote a cheque

Ha! A cheque is a real PIA but at least I can go to our local post office to bank it. I still get the odd one from the sheltered housing people when they are liable for works.
SS

 

[Exfarmer]

Why does ANYONE still use cheques ?

that’s my biggest question

direct eft transfer into your account

once it’s in, it’s in

I literally can’t remember the last time I banked a cheque or wrote a cheque

Oh dont you believe it perhaps rules are different down under but up this part of the world any scam transaction can be pulled back as far as they can trace it

 

[Courier]

That’s my understanding. The bank doesn’t have time to check with the chequebook owner that the book hasn’t been stolen/ cloned or whatever before “clearing” it.

It’s not about “time”.
It’s about willingness to protect themselves rather than their customer..

 

[Norfolk Hill Farmer]

That’s my understanding. The bank doesn’t have time to check with the chequebook owner that the book hasn’t been stolen/ cloned or whatever before “clearing” it.

In that case the bank would have processed a forged signature doesn’t that make them liable ? Does the not insignificant amount of commission cover these circumstances ? Surely there has to be a cut off point where the money is definitely yours or no body could function ?

 

[anzani]

I have tried to attach the V5 application , if you could show me how to pay by card i would be gratefull

You may send them a Postal Order.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1108066/v62-application-for-a-registration-certificate.pdf

 

[Highland Mule]

In that case the bank would have processed a forged signature doesn’t that make them liable ? Does the not insignificant amount of commission cover these circumstances ? Surely there has to be a cut off point where the money is definitely yours or no body could function ?

What commission. Banks don’t charge commission on cheques.

 

[jackp]

You may send them a Postal Order.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1108066/v62-application-for-a-registration-certificate.pdf

Thanks for that , thats really handy , far better than a cheque

 

[Still Farming]

No no no. You have absolutely no protection with Bacs always use a credit card!

Receiving I was on about Sorry.

 

[Highland Mule]

Here's a useful summary which might answer some of your questions @Norfolk Hill Farmer .

How to Notice, Avoid and Report Fake Cheque Scams - Business Expert

Cheque use might be falling but fake cheque scams are on the rise. Here’s our comprehensive guide to spotting, avoiding and identifying fake cheque scams.

www.businessexpert.co.uk

Note the advice : Don’t accept cheques as a method of payment unless you know and trust the person you’re dealing with.

 

[Hilly]

The cheque won’t clear - it will look like it has and then be sucked back a few weeks later.

How do they do that ?

 

[Highland Mule]

How do they do that ?

See above